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Agenda - 06-03-2008-5b5e
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Agenda - 06-03-2008-5b5e
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Last modified
2/27/2017 8:50:03 AM
Creation date
8/28/2008 9:14:39 AM
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BOCC
Date
6/3/2008
Document Type
Agenda
Agenda Item
5b5e
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Minutes - 20080603
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\Board of County Commissioners\Minutes - Approved\2000's\2008
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Source: IlVIPLAN data-ES202, Regional Economic Information System, County Business Pattern, Consumer <br />Expenditure Survey <br />This investment of $138 million in constructing the space. will add 932 jobs to the Orange <br />County economy and 400 jobs elsewhere. In all, 1;332 jobs will be created.2 •The IlVIPLAN <br />model predicts that 60 percent of (or 801) new jobs will go to the construction industry.3 In. <br />terms of the amount of sales tax generated during the construction phase, IlVLPLAN estimates a <br />total of $2.18 million will be generated (see Table 2). Assuming that 40 percent of materials will <br />be purchased in Orange County, approximately $875,000 of total sales tax revenue will stay in <br />Orange County. • <br />Source: IIvIPLAN data-ES202, Regional Economic Information System, County Business Pattern, Consumer <br />Expenditure Survey <br />Overview of Mixed-commercial space <br />Buckhorn Village will consist of one Anchor Retailer, which will be the largest retailer in the <br />project, along with two hotels, 15 restaurants, and 55 to 65 retail shops.. Table 3 shows that the <br />total expected revenue will exceed $180 million once the development is fully. operational. <br />IlVIPLAN estimated the demand for employment based on expected revenue for all <br />establishments, except for the Anchor Retailer, whose employment figures were provided by the <br />developers of Buckhorn. ' <br />2 These measures are complimentary, that is, each measure captures the effects of investment at different points in <br />the circular flow of economic activity. Employment impacts are expressed as the number of full-time and part-time <br />jobs required to produce these goods and services. <br />3 The construction industries that were used in the model were labeled as "commercial and institutional buildings <br />construction" and "highway- street- bridge- and tunnel construction." <br />Table l: Job Creation <br />
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